In the report, Topeka Capital Markets noted, “In this note, we focus on TIF's global mix amidst recent macro news indicating continued economic improvement in the U.S., perhaps some stabilization in Europe, slower China but an improved Japan, TIF's most profitable market. We believe TIF remains under-penetrated in key markets like Asia and Europe, providing plenty of growth in the years ahead. New product introductions and TIF's longer-term strategy to elevate the brand also make us bullish on TIF's future.”